After a few quarters continuously growing income, Google’s parent company Alphabet announced today that it earned $ 61.9 billion in Q2 2021. That’s a jump of 62 percent over the same period last year, when the organization ‘s revenue declined due to the onset of a pandemic. Alphabet generated $ 55.3 billion in revenue last quarter. It is clear that the company has long since recovered from the fall it experienced since last year’s pandemic. As Chief Financial Officer Ruth Porat said in a call for earnings, her results “cover COVID’s impact on our business”.
Like last quarter, Alphabet’s net profit rose significantly, from about $ 7 billion in the second quarter of 2020 to $ 18.5 billion in the same period this year. Most of the money still comes from advertising and search, while Google Cloud and its “Other Bets” department also recorded moderate revenue growth.
CEO Sundar Pichai said in a statement that “the result is a growing tide of networking activities in many parts of the world” and “long-term investments in AI and Google Cloud.” Pichai also said at the company’s call that it had set “a string of records this quarter”. Partner publishers made more money than ever from the Google network, he said, and Alphabet paid its authors and partners on YouTube more than any quarter in history.
Pichai also spoke about recent developments in AI in Google ‘s portfolio, including upcoming Android 12, updated LaMDA talk technology and more. He also highlighted Google Cloud, detailing the development of security solutions and Workspace, including a new one A smart canvas that turned out on Google I / O.
Plus, Pichai said YouTube shorts (its TikTok-like feature) broke a new record by surpassing 15 billion daily views. YouTube subscriptions to things like Premium and Music are also continuing to grow. He also gave news about the company for self-driving vehicles Waymo, which first launched its services to the public in October 2020. It has since “served thousands of rides without a human driver,” he said.
Of course, since the bulk of Alphabet’s money comes from advertising, much of the earnings were based on how merchants used Google’s product to market their services to consumers. CEO Philipp Schindler also spent some time talking about YouTube’s reach and how it can reach an audience that traditional TV and radio networks can’t.
Although the Other Roles division, which covers its hardware products, cost a lot more money than it earned this quarter, it is possible that some of those investments will pay off in the coming months, as Google usually launches new phones in the fall. Porat concluded the call with some prospect statements, saying, “We believe it is still too early to forecast long-term trends as markets reopen, especially given the recent rise in COVID cases globally.” While it is not guaranteed that it will continue to post super strong results in the coming quarters, we are sure that Alphabet will be fine.
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